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need answers asap After closing the books, Stihl & Laksa's partnership balance sheet reports owner's equity of S40,500 for Stihl and $54,000 for Laksa. Stihl
need answers asap
After closing the books, Stihl & Laksa's partnership balance sheet reports owner's equity of S40,500 for Stihl and $54,000 for Laksa. Stihl is withdrawing from (leaving the firm. He and Laksa agree to write down partnership assets by $18,000. They have shared profits and losses in the ratio of one-third to Stihl and two- thirds to Laksa. The partnership agreement states that a partner withdrawing from he firm will receive assets equal to the book value of his owner's equity. Required: 1. How much will Stihl receive? 2. Laksa will continue to operate the business as a proprietorship. What is Laksa's beginning capital on the proprietorship booksStep by Step Solution
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